Stifel Nicolaus Boosts Plexus (NASDAQ:PLXS) Price Target to $95.00

Plexus (NASDAQ:PLXS) had its price target raised by equities researchers at Stifel Nicolaus from $90.00 to $95.00 in a note issued to investors on Friday, Benzinga reports. The firm presently has a “hold” rating on the technology company’s stock. Stifel Nicolaus’ target price suggests a potential downside of 4.78% from the stock’s previous close.

PLXS has been the topic of a number of other research reports. TheStreet lowered Plexus from a “b” rating to a “c+” rating in a report on Tuesday, February 13th. Benchmark reaffirmed a “buy” rating and issued a $110.00 target price on shares of Plexus in a report on Wednesday, January 17th. Sidoti lowered Plexus from a “buy” rating to a “neutral” rating and set a $112.00 target price on the stock. in a report on Tuesday, January 9th. Finally, Needham & Company LLC lifted their price objective on Plexus from $107.00 to $114.00 and gave the stock a “buy” rating in a report on Friday. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $107.75.

Plexus Stock Up 0.7 %

Shares of NASDAQ PLXS traded up $0.68 during mid-day trading on Friday, reaching $99.77. 27,262 shares of the company traded hands, compared to its average volume of 116,765. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.62 and a current ratio of 1.52. The stock has a market cap of $2.75 billion, a PE ratio of 27.56 and a beta of 1.02. The company’s fifty day moving average is $94.38 and its two-hundred day moving average is $98.38. Plexus has a fifty-two week low of $83.84 and a fifty-two week high of $114.06.

Plexus (NASDAQ:PLXS) last released its earnings results on Wednesday, April 24th. The technology company reported $0.94 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.87 by $0.07. The firm had revenue of $966.90 million for the quarter, compared to analyst estimates of $950.75 million. Plexus had a return on equity of 10.86% and a net margin of 2.54%. The company’s revenue was down 9.7% on a year-over-year basis. During the same quarter last year, the firm posted $1.45 EPS. On average, analysts expect that Plexus will post 4.36 earnings per share for the current year.

Insider Buying and Selling at Plexus

In other Plexus news, CAO Angelo Michael Ninivaggi, Jr. sold 3,694 shares of Plexus stock in a transaction on Thursday, February 15th. The stock was sold at an average price of $97.18, for a total value of $358,982.92. Following the completion of the transaction, the chief accounting officer now owns 40,875 shares in the company, valued at approximately $3,972,232.50. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, CFO Patrick John Jermain sold 2,532 shares of Plexus stock in a transaction on Monday, January 29th. The stock was sold at an average price of $92.51, for a total value of $234,235.32. Following the completion of the sale, the chief financial officer now directly owns 54,651 shares of the company’s stock, valued at approximately $5,055,764.01. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Angelo Michael Ninivaggi, Jr. sold 3,694 shares of Plexus stock in a transaction on Thursday, February 15th. The shares were sold at an average price of $97.18, for a total value of $358,982.92. Following the completion of the sale, the chief accounting officer now directly owns 40,875 shares of the company’s stock, valued at $3,972,232.50. The disclosure for this sale can be found here. In the last quarter, insiders sold 32,453 shares of company stock worth $3,112,875. 2.39% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Plexus

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Speece Thorson Capital Group Inc. acquired a new stake in shares of Plexus in the 1st quarter valued at $1,612,000. AlphaMark Advisors LLC acquired a new stake in shares of Plexus in the 1st quarter valued at $267,000. Bridge City Capital LLC acquired a new stake in shares of Plexus in the 1st quarter valued at $2,149,000. Congress Asset Management Co. MA increased its stake in shares of Plexus by 1.1% in the 1st quarter. Congress Asset Management Co. MA now owns 16,273 shares of the technology company’s stock valued at $1,543,000 after buying an additional 184 shares during the period. Finally, Quadrature Capital Ltd increased its stake in shares of Plexus by 49.9% in the 4th quarter. Quadrature Capital Ltd now owns 21,208 shares of the technology company’s stock valued at $2,287,000 after buying an additional 7,057 shares during the period. 94.45% of the stock is owned by institutional investors and hedge funds.

Plexus Company Profile

Plexus Corp. provides electronic manufacturing services in the United States and internationally. It offers design, develop, supply chain, new product introduction, and manufacturing solutions, as well as sustaining services to companies in the healthcare/life sciences, industrial/commercial, aerospace/defense, and communications market sectors.